Colonial falls after loan-to-value ratio ticks up in Q3

Klepierre SA

14/11/2025 09:02

** Shares in Spanish real estate group Colonial SFL COL.MC fall about 5% after its loan-to-value increased in the third quarter

** The group's EPRA loan-to-value ratio increased to 47% from 45.6% in the first half of the year

** "This continues to screen high in our view but disposals were flagged by the company which could help to lower this ratio in our view," J.P.Morgan says

** The brokerage mentions "better opportunities" elsewhere in European real estate, pointing to Vonovia VNAn.DE, Segro SGRO.L, Klepierre LOIM.PA and Merlin MRL.MC

** Colonial narrowed its full-year earnings per share guidance to 0.33-0.34 euros from 0.32-0.35 euros

** The stock is on track for its worst day since June 2024

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))